Never go broke anymore with the loan app in Nigeria. No more long queues to contend with, no time wasting anymore, stop the scout for guarantors, and no collateral required anymore.
Simply, apply, process, access your loan from your loan app in Nigeria right now in a matter of seconds on your mobile phone and you get a credit alert into your bank account now.
In this article, we would be discussing the best and top loan apps in Nigeria, the simple methods of application, and every other thing that is essential to you obtaining loans via loan apps in Nigeria.
An instant loan in Nigeria or Mobile Loan in Nigeria refers to a short-term loan you can apply for using your smartphone, which does not require you to provide any collateral, no paperwork involved, affordable interest rate, flexible and instant access almost immediately in Nigeria.
Irrespective of your person, status, or industry, your small business would likely require a little financial assistance from time to time. Besides your business, it is possible that sometimes you might run out of cash in your pocket and what you wanted to use the money might be very urgent and cannot wait, this is where Instant or mobile loan comes in.
If it’s about your business, you might need to pay your employees, rent a shop, pay off bills, buy goods or sort out one need or the other. You certainly will need cash where the urgency may not afford you a further wait, more also, when there is not any readily available friend or family who can sort out your financial needs at that point in time.
There are alternative loan options that are available online, right at the click of the buttons on your mobile phone, and few minutes your loan is approved and your cash right seated there in your bank account.
This is the essence of instant or mobile loan Apps. Read on, to access all the readily available Apps that will help to sort out your financial needs at such times of exigencies in this article.
The Benefits of Obtaining Instant Personal Loans Online
The benefits of an instant loan are that you can apply for the loan right now, get it processed quickly and easily, get approved, and receive the cash immediately without any form of restrictions on how you feel best to use your money.
Just that there may be a request for a higher interest rate that comes with it when compared to other financing loan options. In some cases, you would be surprised that some of the fast cash loan Apps in Nigeria charge very low interest.
This particular quick loan app offers you a free interest loan, the first time you apply. Borrow money online instantly here with no interest at your first application.
If you are in need of quick personal loans, apply through the top loan Apps in Nigeria, you are sure to receive them instantly. It will save you time and stress. There are so many instant loans apps in Nigeria today. You can apply for a loan, receive approval and get your fund disbursed to your bank account from the comfort of your home
Instant or mobile loan Apps are safe and trusted. Most of the financial institutions that operate Instant Apps are actually Micro Finance Banks, so they operate under the framework of the Central Bank of Nigeria’s financial regulations, Therefore, your security with regards to your personal information and password are securely guaranteed.
This is not to say that all Tom, Dick, and Harry Loan Apps are safe, as there would always be a Judas in every 12, so for this reason, I am going to provide you with safe instant loan Apps that you can reliably be safe with and get your instant loan almost immediately, the moment you kick start the processing.
Advantages of Loan App in Nigeria
The best thing about Mobile loans in Nigeria is that no paperwork is needed. For some, interest rates are low. Repayment is made quite feasible to repay within a short period of time since the loan is always in a small affordable repayment amount.
With personal loans in Nigeria, you can borrow money online instantly by applying for it, get approved, and there you have the money you need instantly in a matter of seconds, sometimes it takes a few minutes.
1. Collateral-Free Loans
Best loan apps in Nigeria offer the convenience and privilege of collateral-free incentives for loan applications. Conventional banks require you to provide collateral for Secured or Credit, consumer or Card based loans to their prescription or taste.
Even when you provide collateral, it has to be the type prescribed by the bank. So even though you presented collateral, is no guarantee that you will receive the loan.
2. Cash is Received Instantly
As expected, business loans from conventional banks take a very long time to be approved. The paperwork alone takes a very long time to be filled with attending requirements that need to be supplied. Then the bank would need to review your loan application, sometimes, it has to go from one desk to the other for approval by different officials of the bank.
And eventually, by the time you get to receive the loan, it may have defeated the purpose which prompted you to apply for the loan in the first place.
On the contrary, the best loan app in Nigeria 2021 offers you an instant receipt of the loan once you apply from the comfort of your home. You certainly would get your fund disbursed into your bank account. This includes application, approval, and disbursement within minutes.
3. Convenient and Stressless
From the comfort of your home, you can apply and process it, there and then, receive your loan instantly. You don’t have to walk into any bank or travel miles to get a loan. No physical form to fill. You can actually get the money disbursed instantly by Payday, or Branch, or other best instant online apps in Nigeria.
Repayment of the loan too is done automatically, since remittances are automatically done from your mobile phone, just by you simply initiating the payment or deducted directly from your account base on the terms of the agreement.
The support service lines are very responsive and emails sent to the reliable loan Apps platforms are responded to in the case there is any hitch experienced
4. Anyone Can Apply, Easy to be Approved
One good benefit of borrowing money online instantly is that anyone at all for that matter can apply and you can easily be approved. Regular banks limit the ability of people to borrow money as a lot of bottlenecks are placed on borrowers.
All they are interested in knowing is whether, at present, you can be able to pay back the loan you would be advanced with, compared to regular banks that reject your application base on so many reasons, paperwork inclusive.
5. Mobile Loan in Nigeria comes with flexibility
You are at freedom as there are no restrictions to whatever you want to use the money borrowed for. You may decide to spend the money on business or on vacation or pay hospital bills, etc. No restriction whatsoever or monitoring of what you use the money for, as it is with conventional bank loans that want to ensure that the money given to you is strictly used for the purpose for which you obtained the loan.
6. Loans Come with Low-Interest Rate.
Repayment of the loan can be done in bits and can be paid before or on the date, it is due for repayment. The top loan apps in Nigeria are low on interest rates. Not all instant loan apps give out loans at low-interest rates. Get the list of the top loan apps in Nigeria below, in this article.
7. Succor in Emergency
You can save a lot of time and embarrassing situations in times of emergency by applying for an Instant Loan in Nigeria because, in a matter of seconds, you can receive the loan directly paid into your account. Therefore, this is your best bet in times of emergency.
Times are uncertain, so you cannot predict when you may be in a situation that warrants you getting an urgent loan. You don’t have to wait for several months after application as is obtained with regular banks where you would have to wait forever till you don’t even have the money to take care of the emergency situation.
In almost all cases of loans applied for in the conventional bank, you would have to do KYC. This comes with a lot of stress as you would need to do a lot of documentation. You would also need to submit your Identification card as well as proof of address and your six months bank statement. Bank officials may even follow you home to know whether the location you submitted on your form is your actual place of residence.
Rather than get yourself stressed out here, simply apply for and borrow money online instantly without the hassles of all the enumerated bottlenecks I have listed above.
8. Quick Approval
Use top and best loan apps in Nigeria, if you want your loan to be approved and disbursed instantly. Just fill in the online information detailing your personal data, work information, education and that’s all.
If you use an instant personal loan app, there is a higher chance that your loan will get approved instantly and you don’t have to wait for it for days. All you need to do is submit the correct information required, and you will receive the approval of the loan the very same day, and the amount will be disbursed directly to your account instantly.
Paylater(Carbon) is an instant personal loan app that has been extremely helpful in the period of the lockdown and is still very helpful now. People can apply for loans from the comfort of their homes, receive the money right there without walking into the bank, and this has helped tremendously in maintaining social distancing.
With so many instant apps available online, there is a variety of choices to make. It’s a matter of picking the top and the best reliable once and apply and in seconds receive the fund.
Best Loan App in Nigeria – Instant Loan in Nigeria Without Collateral
Listed and explained below are the best loan Apps in Nigeria which provide a huge and lots of convenience to millions of online mobile loan borrowers. These are alternative loan options to conventional banking that are available online. Those are the list I will be explaining below.
By clicking on the links below each explanation of the Apps, head over to Google Playstore to access your loans. It takes just simple clicks on the buttons on your mobile phone, and a few minutes later, your loan is approved and your cash right sitting there in your bank account.
Click on the links below, they will lead you to common and simple ways of applying and processing each of the online loans by downloading the loan Apps on Google Playstore, on your Android Mobile Phone. The same method, same process, is applicable to all.
1. Branch
Branch is the top and world’s foremost and leading personal finance app that grants you access to quick and instant loans. You don’t have to do any physical documentation.
With Branch, you can transfer money and pay your bills for free, you can get instant loans of up to ₦500,000, and make an investment turnover of 20% per year.
Get your loan now repay in 61-180 days with branch.
Download the Branch App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
Paylater is now known as Carbon,.is an easy-to-use lending platform that lends money to borrowers on a short-term basis. It lends to small businesses, organizations, and individuals to meet emergencies and exigencies.
You can borrow up to ₦500,000 loan without having to provide any collateral. You will receive your funds the same day you applied with Carbon if your application is approved. When you pay back your loan on time, you get a higher credit limit the next time you apply.
Download the Paylater(Carbon) App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
3. Palmcredit
Palmcredit parent company – Newedge Finance Limited is licensed by the CBN. It carries out its business as a finance company in Nigeria. Their operations are regulated by the Central Bank of Nigeria.
With Palmcredit you would be able to get a loan of up to ₦100,000 in a matter of minutes on your mobile phone.
Simply apply on PalmCredit on your mobile phone, your credit limit is displayed in seconds, obtain your loan without much ado. Once you repay on time, your credit limit is increased
You can access loans on Palmcredit in seconds, you don’t have to provide any collateral.
Download the PalmCredit App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
4. QuickCheck and JumiaPay
QuickCheck is a popular loan App that operates in Nigeria. It partners with Jumiapay. Obtain your loan from QuickCheck or JumiaPay without collateral in Nigerian. You can apply on your mobile phone by downloading, install and apply.
JumiaPay lends to individuals, organizations, and small businesses. it operates on mobile technology which allows individuals, organizations, and small businesses to get financial credit.
You can get a loan of up to 35,000 without collateral 30-day tenure.
Download the QuickCheck and JumiaPay App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
5. Aella Credit
Aella Credit provides a platform that enables users of the African Continent to access instant loans. It is a FinTech company collaborating with various global investors, giving out loans to small businesses and individuals.
Aella provides fast, instant, quick, and affordable loans. No paperwork is required.
Download the Aella App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
6. Kash Kash
Kashkash app is a loan app that affords Nigerians flexible loans. Kash Kash offers Nigerians, free interest on their first loan application and low-interest rates on subsequent loan
No collateral, paperwork, or documentation is needed to obtain a loan from KashKash.
Download the KashKash App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
7. FairMoney
FairMoney gives short-term loans to help out in emergencies. They also give out loans to individuals, small businesses, and organizations. In few minutes, you can apply and access your loan.
Get your loan offer, quickly and instantly, Build up your credit score and increase your credit limit with FairMoney, then you get access to higher loans.
Download the FairMoney App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
8. LCredit
Borrow money with LCredit Loan app and receive your funds with the speed of a Jet. LCredit is one of the fastest online loan Apps that disburses money Instantly to customers. They give out loans with a flexible repayment plan and interest rate that is favorable.
Founded by Nkem Okocha, owner of Mamamoni, a FinTech social enterprise that provides financial services to rural inhabitants and poor women in the region of the African Continent.
Get your loan offer, quickly and instantly, Build up your credit score and increase your credit limit with LCredit, then you get access to higher loans.
Download the LCredit App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
9. EaseMoni
Apply for loans up to ₦1,000,000 right from your mobile phone with no collateral and no paperwork, receive your loan in few minutes. Get a loan at the lowest interest rate with EaseMoni.
Are you a salary earner? With EaseMoni you can get up to an N1,000,000 loan. Fastest and easiest loan platform with no collateral or paperwork for salary earners.
Download the EaseMoni App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
10. NewCredit
NewCredit offers loan services to Nigerians. it is one of the quickest and fastest lending platforms that offers individuals and businesses access to loans at affordable rates.
If you are in want of an online loan get access to NewCredit online loan App in Nigeria. Of course, no collateral is required, no paperwork, and no hassles, simply sit back and enjoy your cash.
Download the NewCredit App Here, Apply and Receive Quick, Instant, and Flexible Loans at Affordable Rates
Times are uncertain, so you cannot predict when you may be in a situation that warrants you getting an urgent loan. You don’t have to wait for several months after application as is obtained with regular banks where you would have to wait forever till you don’t even have the money to take care of the emergency situation.
Therefore, make hay while the sun shines. Get registered, download any of, or all of the Apps as explained in this article, and get those emergencies sorted out as fast as possible with Loan App in Nigeria
If you have any difficulties in registering for a loan on Loan App in Nigeria or any issue at all, do well to drop a comment here, we would respond in no time.
